Investors Pour $27.1B into A.I. Startups, Defying a Downturn
Investors inject $27.1 billion into U.S. A.I. start-ups from April to June, comprising half of total U.S. start-up funding. A.I. sector thrives amid broader start-up challenges, attracting notable investments despite competition concerns.
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Investors have defied the start-up downturn by pouring $27.1 billion into A.I. start-ups in the U.S. from April to June, accounting for nearly half of all U.S. start-up funding in that period. This surge in A.I. investments contrasts with the struggles faced by many other tech start-ups. The A.I. boom, which began in late 2022, has become a strong counterpoint to the broader start-up downturn, with U.S. start-ups raising a total of $56 billion in the same period. Notable funding rounds include CoreWeave raising $1.1 billion, Scale AI raising $1 billion, and xAI, founded by Elon Musk, raising $6 billion. Despite the high costs associated with building A.I. technologies, investors are drawn to the potential of A.I. companies, with some predicting that the A.I. market will surpass other major tech markets. However, competition from big tech companies like Microsoft and Amazon may impact A.I. start-ups' ability to secure large funding rounds in the future.
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9 comments[1] https://cointelegraph.com/news/crypto-euphoria-as-lemonade-m...
Well, if they have, I suppose they'll be reminded forcefully by today's substantially different rate environment.
I'm not saying "AI" isn't a big deal. It is. It's got all sorts of uses. Is the state of play worth dumping this quantity of brains and dollars? Jury's out on that. But saying it's worth lots of money because people are throwing lots of money is not a winning argument.
Solid-state batteries and solar farms seem more promising.
NYT says the $27.1B represents ~50% of investments in startups ($56B in total).
But the $27.1B includes $1B for CoreWeave, $1B for Scale AI, and $6B for xAI. Elon Musk's company is an outlier IMHO, and the other two might as well be public companies soon. Certainly late stage enough not to be bellwethers for early stage VC investing.
Remove the $8B above, and AI startups got about 34% of all startup funding. Is that a lot? I don't know, but all of a sudden it sounds more reasonable.
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